Among the well-known trading hubs, eToro, Currency.com, Plus500, and Trading 212 rank high globally. We've assessed these platforms based on five essential factors.
eToro
Founded in 2006 in Israel, eToro offers a unique social trading feature along with an extensive collection of CFD tools.
Deposits and withdrawals
eToro accommodates payments through various methods like credit cards, bank transfers, cryptocurrencies, PayPal, and more. The initial deposit requirement varies by country, ranging from $50 in the USA and Australia up to $10,000 in Israel. Post the first deposit, funds can be added more flexibly.
There's a $5 fixed fee for withdrawals, with a minimum of $30. Currency conversion for non-USD transactions will cost an additional fee, with ten currencies available for withdrawals.
Tools for trading
eToro predominantly focuses on CFD and Forex, yet caters to trading of stocks, cryptocurrencies, and ETFs without leverage. The platform hosts over 2,000 trading instruments.
Innovations from eToro include CopyTrader and CopyPortfolio, allowing trades to mirror successful investors and invest in their curated portfolios.
Retail client leverage caps at 30x for Forex, 10x for commodities, 5x for stocks, and 2x for crypto, with some restrictions based on client location.
Trading commissions
Equity trades are free from commission, while CFD fees are kept competitive. However, Forex and cryptocurrency transactions have specific fees and spreads.
An inactivity fee at eToro is $10 per month if a user doesn't log in for a year. This is apart from the usual trading fees.
Referral programme
The platform's Refer a Friend initiative awards between $50-$100 for new recruits from select countries—unfortunately excluding Russia, Ukraine, and CIS.
Security
eToro operates under the guidance of regulators in Cyprus, the UK, and Australia. Account protections vary by client location, offering insurance safeguarding investments up to $1m.
- UK: £85,000
- Australia: no deposit insurance
- Other countries: €20,000
For EU consumers, eToro offers negative balance protection plus Lloyd's insurance under specific conditions. This safety net doesn't extend indefinitely.
Trading 212
Originally Bulgarian, Trading 212 now calls London its home. It's the UK's favorite mobile trading app, albeit with fewer features than some rivals.
Deposits and withdrawals
You can deposit or withdraw from Trading 212 with as little as $1 without fees. Transfers in a non-account currency entail conversion costs, but withdrawals are swift.
Tools for trading
Offering three account types, Trading 212 provides specialized access to CFDs, and for certain accounts, stocks, cryptocurrencies, and ETFs.
Retail leverage maxes at 30x, with flexibility in specifics per asset, while professional clients enjoy leverage as high as 500x.
Trading commissions
Trading 212 features lower fees compared to its counterparts on CFDs. Stock and ETF trading incurs null commissions, though availability is restricted.
Currency conversion at Trading 212 is set at 0.5%, yet the platform marks itself uniquely by waiving inactivity charges.
Referral programme
A referral agreement at Trading 212 promises a free share for both parties—within program limits and geographical boundaries.
Security
UK and Cyprus regulators ensure Trading 212 follows strict standards similar to eToro with substantial mandatory safeguards.
Plus500
From Israel, Plus500 caters globally as a CFD heavyweight, with ties to the London Stock Exchange and oversight from significant bodies.
Deposits and withdrawals
Without deposit fees, Plus500 embraces diverse payment options, setting a minimum of $100 via card or $300 through bank transfers.
After a few free withdrawals, Plus500 introduces minimal fees, almost all varying by method, with bank transfers carrying potential extra costs.
Withdrawals require a timeframe of three to seven business days, primarily due to security protocols, ensuring safe transactions.
Tools for trading
The array of Plus500's CFDs spans currencies, indices, commodities, and more, including feats like over 70 forex pairs and 15 crypto pairs.
As far as margin trading goes, Plus500 caps retail leverage at 30x, unleashing up to 300x for professional traders under stricter conditions.
Scalping—brief, rapid trades—isn't allowed on Plus500, a rule to thwart volatile short-term trading manipulations.
Trading commissions
While appealingly free of charges on various operations, Plus500's spreads embed broker earnings, accompanied by some specific activity fees.
Referral programme
Plus500's affiliate scheme requires a qualified website, with rewards scaling from $200 up to $800, enhanced by generated commissions.
Security
Listed in London, Plus500 adheres to high transparency, with public reports and eight regulatory bodies safeguarding client interests.
Currency.com
Currency.com positions itself as a pioneering crypto exchange, regulated and dominant in the CIS region, featuring innovative tokenized asset trading.
Deposits and withdrawals
Handling transactions with ease, Currency.com supports varied payment systems and key cryptocurrencies with speedy processing, usually under 20 minutes.
The transparent fee structure at Currency.com offers card and e-wallet deposits, with minimal withdrawal charges hinged on transaction method.
Tools for trading
Keeping track of 1,500+ tokenized assets, Currency.com provides a secure trading alternative in the crypto world, by extension enhancing potential earnings.
If you've got an account, you can trade with leverage across various instruments:
- up to 500x for tokenised currencies;
- up to 200x for tokenised commodities;
- For tokenised indices and cryptocurrencies such as BTC/USD, BTC/EUR, and ETH/USD, ETH/EUR, you can leverage up to 100x;
- But when it comes to tokenised shares, other cryptocurrencies, and ETFs, the leverage caps at 20x.
Currency.com’s reach extends far and wide, covering more countries than nearly every other leading platform. There are only 21 regions where their services are off-limits. These excluded areas include places like Albania, Bahamas, and Iran among others.
Trading commissions
Currency.com’s fee structure shifts based on what you're trading. Within their platform, you find two distinct modes:
Trading (spot market):
cryptocurrency: 0.2 per cent
- For tokenised stocks, indices, commodities, and ETFs, a fee of 0.05% applies.
- tokenised bonds: 0.03 per cent
- tokenised currencies: 1 per cent
Trading with leverage:
- takers (crypto): 0.075 per cent
- makers (crypto): -0.025 per cent
However, when dealing with makers and takers in the realm of cryptocurrencies and DeFi tokens, take note that leverage trading on 1,539 tokenised assets, including stocks, commodities, ETFs, currencies, bonds, and indices, is entirely commission-free until January 31, 2021.
Referral programme
Currency.com has two programmes:
- For affiliate partners—especially those with websites or clients of their own—an opportunity awaits: bring a client to Currency.com, and you'll earn a share of the commission—40% for up to two years. Plus, your partner enjoys a 12% discount on their commissions.
- There's also a referral program open to all. Benefit by earning 50% of the commissions generated from your referrals for half a year, while your referrals themselves receive a 10% commission discount for the first three months. The referral count? Unlimited.
Currency.com invites customers from its supported nations to partake in these rewarding programs.
Security
Rooted in the legislative framework of the Republic of Belarus, the platform is tightly regulated. Belarus's progressive cryptocurrency laws make it a hotspot for blockchain ventures, enabling Currency.com to reach more global markets with pioneeringly swift and budget-friendly deposit and withdrawal services.
Keeping everything ship-shape, Currency Com Limited undergoes regular audits and is proudly DLT-licensed by Gibraltar's financial authorities.
Conclusion
Across the board, the showcased platforms have earned accolades for their solid reputations, security, and top-notch services.
Trade conditions on Currency.com are tailored for advantage. You can securely stash tokenised assets in an ERC-20 compatible crypto wallet, leveraging Ethereum’s blockchain, unlike CFDs that can’t be withdrawn. Enjoying leverage-free fee trading on tokenised assets allows you to hedge against price swings while safeguarding your investment strategies. With low fees, welcoming regulation, and open accessibility, Currency.com stands tall among its European and global peers.
